Enefit Green's Production Performance in Early 2025
This March, Enefit Green achieved remarkable results, producing 233.6 GWh of electricity, which marks a striking 60.4% increase compared to the same month last year. Overall, the company saw an impressive 24.8% rise in its electricity production for the first quarter, totaling 616.9 GWh. This growth can be largely attributed to the incorporation of new wind and solar farms into their operational framework.
Wind Energy Contributions to Growth
The production results for March were predominantly influenced by a notable 61% year-on-year surge in wind energy production, which yielded 207.8 GWh. The introduction of two new wind farms – the Sopi-Tootsi wind farm in Estonia contributing 59.9 GWh, and the Kelme I project in Lithuania producing 20.9 GWh – were key factors in this increase.
Weather Conditions Impacting Production
Unlike the quiet weather conditions observed in February, March brought stronger winds to Estonia and Finland, with average wind speeds reaching 6.4 m/s and 7.7 m/s respectively; better than the previous years’ averages. Lithuania maintained a consistent level with an average speed of 6.8 m/s. This favorable weather resulted in an additional 3.3 GWh of production due to the improved wind conditions.
Challenges Faced During Q1
The entire first quarter was relatively calm as wind speeds in February were recorded at 6.2 m/s in Estonia and 6.6 m/s in Lithuania, both showing slight declines from last year and resulting in a combined production impact of 57.4 GWh. Although Finland experienced improved wind conditions with an average speed of 7.7 m/s, excessive curtailments due to low market prices hindered additional production gains compared to last year.
Growth of Solar Energy Production
Solar energy also played a crucial role in boosting overall production, soaring by 158% year-on-year to 14 GWh in March and by 137% to 20 GWh in the first quarter. This surge can be attributed to enhanced installed capacity and the integration of new solar facilities, notably the Sopi solar park that contributed nearly 6 GWh in March alone.
Performance of the Iru Cogeneration Plant
Furthermore, the Iru cogeneration plant recorded a rise in electricity and heat production, increasing by 8.8% and 6.6% year-on-year to 11.6 GWh and 36.1 GWh, respectively. However, the overall production in the combined heat and power segment saw a decrease of 6% to 32.0 GWh for electricity and 18.8% to 104.8 GWh for heat. This drop is influenced by last year’s sale of biomass assets impacting current output levels.
Insights from Management
Innar Kaasik, COO of Enefit Green, shared insights on the Q1 production results, emphasizing that the overall performance was affected by the calm winds of February. He noted that although improvements were seen in March, factors like icing on wind turbine blades, particularly in Lithuania and Finland, negatively influenced availability during critical periods.
Future Outlook for Enefit Green
The increased wind and solar production underlines Enefit Green's commitment to enhancing its renewable energy capabilities. With a growing portfolio of renewable energy projects, the company is well-positioned to continue its upward trajectory in production. Engaging in further asset development and advancing technologies will be pivotal for sustaining its competitive edge in the green energy sector.
Frequently Asked Questions
What milestones did Enefit Green achieve in March 2025?
Enefit Green reported a significant increase in electricity production, achieving 233.6 GWh, a 60.4% rise compared to the previous year.
How much did wind energy production increase?
Wind energy production surged by 61% year-on-year, totaling 207.8 GWh for March 2025.
What challenges impacted Enefit Green's production in Q1 2025?
The production was impacted by calm winds in February and curtailments due to low market prices, resulting in a negative overall influence on output levels.
How did the solar segment perform in early 2025?
Solar energy experienced significant growth, increasing by 158% to 14 GWh in March and 137% to 20 GWh for the first quarter.
Who can be contacted for more information about Enefit Green?
Sven Kunsing, the Head of Finance Communications, can be reached at investor@enefitgreen.ee for further inquiries.
